THE STORY OF HASTINGS IN FIGURES

Hawke's Bay Herald-Tribune, Issue 94, 7 May 1937, Page 36 (Supplement)

THE STORY OF HASTINGS IN FIGURES

In 1904 the public debt of Hastings stood a|t tbe modest amount of £26,995 and the total revenue for the servicing of the debt and the carrying out of raaintenance works was £6,013. The figures for the year just ended aff orded an amazing comparison ; the present public debt is shown at £316,482 and the total rate yield at £42,375. The civic development of the borough and the provision of essential services, in which Hastings at the early pairt of the century was considered to be somewhat backward. may be traced through the public debt in the past 30 - years. Not only that, but the table given below traices the growth of the residential section from 763 private dwellings in 1898 to 3374 in 1937. There has been a commensurate increase in the number of ratepayers. The following table traces through the various periods the growth of the borough: —

The borough finances are maaiaged under a very efficient redemption scheme. The present net public debt of the borough is £316,482, and the working of the redemption arrangement can be seen by a comparison of the net debts of 1928 and 1937. The present debt of the borough under this scheme should be extinguished by 1961, including the present loan for sewer extension. For the sewer extension, by the way, the council is raising the amount of the loan ait the rate of about £3000 a month, and the full amount will not have been received until September 1 next. But here is the point of the redemption scheme: that by the time the full amount of the new loan is raised the simultaneous working of the borough dcbt-redemption scheme will have ensured that there is little or no addition to the net indebtedness of the borough.

No. of No. of Net Amount of Capital Dwellings Ratepayers Public Debt Valuation £ £ lays 763 734 23,400 488,000 1904 852 888 26,995 567,400 1908 1,177 1,221 27,266 1,333,503 1912 1,572 1,455 191,339 .1,466,364 1916 2,020 1,840 192,292 1,714,159 1920 2,130 1,998 216,755 2.666,045 1924 2,404 2,485 265,597 2,921,305 1928 " 2,716 2,649 369,024 3,248,342 1932 3,000 2,775 350,876 3,608,239 1936 3,294 2,830 345,518 3,788,611 1937 3,374 2,914 316,482 3.832,244 .